After paying the seller the Manager's Check on the sale of property, does the BIR require a xerox copy of the manger's check as proof of payment to the seller?

Thanks!

Not required. a notarized deed of absolute sale is more than sufficient for the BIR. Likewise, in tax assessment, the deed of sale is just a reference point only by the BIR so why does it need an MC to check and validate?

Actually, some RDO's require it. They are not saying why but I think it's their way of verifying a cash sale and an instalment sale or maybe to make sure there is no undervaluation being done. Of course it's easy to just break down the MC to 2 checks so I think it's the first reason.

agree with mr. bauer.whatever amount we put in deed of sale, BIR will always follow their own computation based on whichever is higher among 1. selling price in deed of sale or 2. zonal value for land plus tax declaration for improvements.

After paying the seller the Manager's Check on the sale of property, does the BIR require a xerox copy of the manger's check as proof of payment to the seller?

Thanks!

No need for the cheque(s). Deeds of absolute sale is enough for paying the taxes in BIR.. because they have their own computation to the value(zonal value)of the property even you buy it cheaper than the original price...

No need for the cheque(s). Deeds of absolute sale is enough for paying the taxes in BIR.. because they have their own computation to the value(zonal value)of the property even you buy it cheaper than the original price...

along with other supporting documents like tax declaration and tax clearance that you can get in the municipality... etc....

No need for the cheque(s). Deeds of absolute sale is enough for paying the taxes in BIR.. because they have their own computation to the value(zonal value)of the property even you buy it cheaper than the original price...

have you processed taxes in the BIR? they don't just use the zonal value.

I'm surprised. If the BIR always the zonal value in your case, I'm inclined to think you are always under-declaring the sale price. That is not good practice. I know you can buy below zonal value but do you always sell below zonal value?

I'm surprised. If the BIR always the zonal value in your case, I'm inclined to think you are always under-declaring the sale price. That is not good practice. I know you can buy below zonal value but do you always sell below zonal value?